Two employees of BLS Institute of Management were robbed of 4 lakh near Rajiv Colony, Ghaziabad at gunpoint on Monday.

Three bike-borne assailants looted the victims, Rahul Sharma and Balram, when they were returning to college after having withdrawn money from a bank in Mohan Nagar a little after 12 noon.

"They were looted at a spot barely 200 metres from the college. The three assailants stopped Rahul and Balram when they were walking towards the college. Two of them had guns, and they threatened our employees. They snatched the bag containing cash from Balram's hands and fled. A complaint letter is being prepared for police", Kapil Garg, the institute's registrar, said.